Float Like a Butterfly – Mortgage Rates Looking for Direction

7/22/2017 | Casey Fleming |  Like a butterfly, interest rates fluttered around this week without actually really going anywhere, and looking forward still appear to be looking for direction. There is good news in this.  As I have said before, interest rate markets love certainty, and even though the last month has brought a very...

Richard Cordray to Leave CFPB?

7/21/2017 | Casey Fleming | Will Richard Cordray leave his post as director of the Consumer Financial Protection Bureau?  (The CFPB)  The CFPB, the brainchild of Elizabeth Warren which was created via the Dodd-Frank Wall Street Reform and Consumer Protection Act, was designed to be independent of political influence.  That independence has meant that it...

Mortgage Rates Hold Steady in Mid-July

7/15/2017 | Casey Fleming |  Last week I predicted that underlying conditions (think wholesale interest rates) would probably improve during the week just ended, but that economic reports and announcements by Fed members carried too much risk for mortgage rates to improve much in mid-July.  I noted that we would probably see lock opportunities on...

Wages and Housing Prices

7/14/2017 | Casey Fleming | How do housing prices and wages correlate?  Logic would dictate that as wages rise home prices would rise, and vice-versa.  Wages are not the only factor affecting housing prices, however.  Household savings, household debt, interest rates and available inventory all have a serious impact on prices. Nevertheless, comparing wages to housing...

How Supply and Demand Affects Real Estate

7/13/2017 | Casey Fleming | For as long as I’ve been in the real estate finance industry (and that’s a long time) friends and family have asked me about real estate values – Are they going up?  Are they going down?  Are we nearing the peak?  Are we close to the bottom?  Over time the...

Mortgage Rates Rise Before the Thunder Moon

7/8/2017 | Casey Fleming  Last week I predicted that rates would remain generally stable for the rest of the week, barring unexpected news.  Well, we had some unexpected news leading into the week of the Thunder Moon. The Thunder Moon is the full moon in July when thunderstorms are common in the United States.  It...

Mortgage Rates Rise for the 4th of July

7/3/2016 | Casey Fleming  Last week I wrote that due to the holiday this week it would be likely that rates would begin to rise by Friday.  As it turns out, Thursday was the big day.  Underlying interest rates edged up ever so slightly Tuesday and Wednesday, and then moved more noticeably on Thursday.  Mortgage...